The euro fell from two-month highs today (July 19th), amid ongoing concerns about Europe’s sovereign debt problems.
Reuters reports the currency slipped to $1.2904 (84p), a 0.2 per cent decline, tumbling from a two-month high of $1.3008 hit in Forex trading on Friday.
David Scutt, Forex trader at Arab Bank, Australia, told the news agency: "While European leaders believe that the tests will bring confidence, the markets may not believe the sugar-coated figures with the euro primed for another leg down in the weeks ahead."
High-yielding currencies like the Australian and New Zealand dollars were also under pressure on trading platforms following subdued US data and falling equities.
Meanwhile, the dollar rose 0.1 per cent versus the yen to settle at 86.64 yen, an improvement on a seven-month low of 86.27 yen hit on Friday.
Reuters reported that Sterling fell to its lowest levels against the euro since the start of June on Friday, trading at 84.58p per euro.
